Ordinance 2005-010C ORDINANCE No.
AN ORDINANCE OF THE UNITED CITY OF YORKVILLE,
KENDALL COUNTY, ILLINOIS, ADOPTING TAX INCREMENT
ALLOCATION FINANCING FOR THE U.S. ROUTE 34
AND ILL. ROUTE 47 (COUNTRYSIDE SHOPPING CENTER)
TAX INCREMENT REDEVELOPMENT PROJECT AREA
WHEREAS, it is desirable and in the best interests of the citizens of the United City of
Yorkville, Kendall County, Illinois (the "Municipality"), for the Municipality to adopt tax
increment allocation financing pursuant to the Tax Increment Allocation Redevelopment Act, as
amended (the 'Act ") 65 ILCS 5/11 - 74.4 -1 et. seq.; and,
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WHEREAS, the Mayor and City Council of the Municipality (the "Corporate
Authorities ") have heretofore approved a redevelopment project and plan (the "Project and
Plan ") as required by the Act by passage of an ordinance and have heretofore designated a
redevelopment project area (the "Area ") as required by the Act by the passage of an ordinance
and the Municipality has otherwise complied with all other conditions precedent required by the
Act.
NOW, THEREFORE, BE IT ORDAINED by the Mayor and City Council of the
United City of Yorkville, Kendall County, Illinois, as follows:
Section 1. Tax Increment Financing Adopting. Tax increment allocation financing is
hereby adopted to pay redevelopment project costs as defined in the Act and as set forth in the
Project and Plan within the Area as legally described in Exhibit A attached hereto and
incorporated herein as if set out in full by this reference. The map of the Area is depicted on
Exhibit B attached hereto and incorporated herein as if set out in full by this reference.
STATE OF ILLINOIS
COUNTY FLED NDALL
FEB 18 2005
County Clerk
Kendall County
Section 2. Allocation of Ad Valorem Taxes. Pursuant to the Act, the ad valorem taxes,
if any, arising from the levies upon taxable real property in the Area by taxing districts and tax
rates determined in the manner provided in Section 11- 74.4 -9(c) of the Act each year after the
effective date of this Ordinance until the Project costs and obligations issued in respect thereto
have been paid shall be divided as follows:
(a) That portion of taxes levied upon each taxable lot, block, tract or parcel of
real property which is attributable to the lower of the current equalized
assessed value or the initial equalized assessed value of each such taxable
lot, block, tract or parcel of real property in the Area shall be allocated to
and when collected shall be paid by the county collector to the respective
affected taxing districts in the manner required by law in the absence of
the adoption of tax increment allocation financing.
(b) That portion, if any, of such taxes which is attributable to the increase in
the current equalized assessed valuation of each lot, block, tract or parcel
of real property in the Area over and above the initial equalized assessed
value of each property in the Area shall be allocated to and when collected
shall be paid to the municipal treasurer or to his designee pursuant to
Section 207A of the Revenue Act of 1939 of the State of Illinois, as
amended, who shall deposit said taxes into a special fund, hereby created,
and designated the United City of Yorkville Tax Increment Financing
Redevelopment Project Area Special Tax Allocation Account" of the
Municipality, and such taxes shall be used for the purpose of paying
Project costs and obligations incurred in the payment thereof.
Section 3. Invalidity of Any Section. If any section, paragraph or provision of this
Ordinance shall be held to be invalid or unenforceable for any reason, the invalidity or
unenforceability of such section, paragraph or provision shall not affect any of the remaining
provisions of this Ordinance.
Section 4. Superseder and Effective Date. All ordinances, resolutions, motions or
orders in conflict herewith be, and the same hereby are, repealed to the extent of such conflict,
and this Ordinance shall be in full force and effect immediately upon its passage by the
Corporate Authorities and approval as provided by law.
PASSED this IS day of , 2005.
APPROVED:
Mayor
AYES: 'I
NAYS:
ABSENT:
Attest:
C erk
Exhibit-4
Legal Description
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Exhibit A
LEGAL DESCRIPTION
The boundaries of the Project Area have been carefully drawn to include only real property and
improvements substantially benefited by the proposed Redevelopment Project to be undertaken as
part of this Redevelopment Plan. The boundaries of the Project Area are generally coterminous
with the property assigned the 2003 tax parcel number 02 -28- 104 -015 plus adjacent right -of -way
along IL Route 47. The Project Area boundaries are shown in Figure 1, Project Area Boundary,
and legally described below.
LOT 7 (EXCEPT THAT PART DESCRIBED AS FOLLOWS: COMMENCING AT THE MOST EASTERLY
SOUTHEAST CORNER OF SAID LOT 7; THENCE NORTH 80 DEGREES 58 MINUTES 11 SECONDS
WEST ALONG SOUTHERLY LINE, 309.0 FEET TO A SOUTHEAST CORNER OF SAID LOT 7 FOR A
POINT OF BEGINNING; THENCE SOUTH 80 DEGREES 58 MINUTES 11 SECONDS EAST ALONG SAID
SOUTHERLY LINE 209.0 FEET TO A SOUTHEAST CORNER OF SAID LOT 7; THENCE NORTH 04
DEGREES 45 MINUTES 00 SECONDS EAST ALONG AN EASTERLY LINE OF SAID LOT 7, 90.0 FEET;
THENCE NORTH 80 DEGREES 58 MINUTES 11 SECONDS WEST, 140.35 FEET; THENCE SOUTH 70
DEGREES 02 MINUTES 02 SECONDS WEST, 185.15 FEET TO THE POINT OF BEGINNING; AND ALSO
EXCEPTING THAT PART AS FOLLOWS: BEGINNING AT THE INTER
CTIO OF THE
SOUTHERNMOST LINE OF LOT 6 OF THE RESUBDIVISION OF PART OF BLOCK 1, COUNTRYSIDE
CENTER, UNIT NO. 1 WITH THE WESTERLY LINE OF ILLINOIS ROUTE NO. 47; THENCE SOUTH 69
DEGREES 58 MINUTES 14 SECONDS WEST ALONG SAID SOUTHERNMOST LINE 230.45 FEET TO
THE SOUTHERNMOST CORNER OF SAID LOT 6; THENCE SOUTH 19 DEGREES 57 MINUTES 46
SECONDS' EAST 192.30 FEET; THENCE NORTH 70 DEGREES 02 MINUTES 14 SECONDS EAST
141.82 FEET TO SAID WESTERLY LINE; THENCE NORTH 04 DEGREES 45 MINUTES 00 SECONDS
EAST ALONG SAID WESTERLY LINE 211.98 FEET TO THE POINT OF BEGINNING) OF THE
RESUBDIVISION OF PART OF BLOCK 1, COUNTRYSIDE CENTER, UNIT NO. 1, AND ALSO THAT
PART DESCRIBED AS FOLLOWS: COMMENCING AT THE SOUTHERNMOST CORNER OF LOT 6 IN
SAID RESUBIDVISION; THENCE SOUTH 04 DEGREES 45 MINUTES 00 SECONDS WEST ALONG THE
EAST LINE OF SAID LOT 7 211.98 FEET FOR THE POINT OF BEGINNING; THENCE SOUTH 85
DEGREES 15 MINUTES 00 SECONDS EAST, 136.94 FEET TO THE EAST LINE OF SAID ILLINOIS
ROUTE 47; THENCE SOUTH 02 DEGREES 08 MINUTES 48 SECONDS WEST ALONG SAID EAST
LINE, 397.70 FEET; THENCE SOUTH 04 DEGREES 45 MINUTES 00 SECONDS WEST ALONG SAID
EAST LINE, 191.78 FEET; THENCE NORTH 85 DEGREES 15 MINUTES 00 DEGREES WEST, 150.00
FEET TO THE WEST LINE OF SAID ILLINOIS ROUTE 47; THENCE NORTH 04 DEGREES 45 MINUTES
00 SECONDS EAST ALONG SAID WEST LINE, 589.05 FEET TO THE POINT OF BEGINNING. IN THE
UNITED CITY OF YORKVILLE, KENDALL COUNTY, ILLINOIS.
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Exhibit B
Map
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Exhibit B
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Countrysi Parkway
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Block: 104
Parcel: 015
1,2,3,4,5,6';7 ;8 *,9*
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Project Area Boundary
3,4,5 Blight Factors: i
1. Obsolescence I
2. Deterioration (f
3. Presence if structures ` ROUt@ 34
below minimum code
4. Excessive vacancies
5. Declining or lagging equalized
assessed value6. Lack of community planning j
8. Environmental remediation
9. Excessive land
coverage /overcrowding
* Indicates factor present to a limited extent
Figure 4
tribution of Blight Factors
Ro ute US Ro ute
Tax Increment Financing Redevelopment Project Area URS • TPAP